Unemployment in Chile
Chile - UnemploymentThe economy likely rebounded in Q3, after plunging in Q2 due to strict lockdown measures, and available indicators point to a further improvement at the beginning of Q4. Activity expanded month-on-month throughout Q3, benefiting from an improving performance in the non-mining sector. Moreover, retail sales expanded strongly in annual terms in August-September, which, coupled with rising consumer sentiment, suggests household spending started to recover. Moving to Q4, a further improvement in both business and consumer confidence points to firming activity. Meanwhile, in mid-October, Fitch Ratings downgraded Chile’s credit rating from A to A-, citing worsening public finances due to the pandemic and increasing social pressure. Meanwhile, later in the month, voters overwhelmingly backed a plan to rewrite the constitution, raising uncertainty over the scope of government intervention in the economy.
Chile - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Chile Unemployment Chart
Source: National Statistical Insitute (INE) and FocusEconomics calculations
|Bond Yield||3.14||-0.44 %||Dec 30|
|Exchange Rate||752.0||0.05 %||Jan 01|
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June 9, 2021
Consumer prices increased a seasonally-adjusted 0.27% in May over the previous month, following the 0.38% rise seen in April.
June 9, 2021
At its 8–9 June meeting, the board of the Central Bank of Chile unanimously decided to keep the monetary policy rate unchanged at 0.50%, its lowest point since 2009, matching market analysts’ expectations. Although both headline and core inflation are averaging around 3.5% and the Bank noted the economy was performing better than previously expected, it decided to keep rates steady to support the recovery.
June 1, 2021
Business confidence rose to 54.9 in May from April's 51.4.
Chile: Annual economic activity growth hits record high in April on favorable base effect, but underlying momentum is weak
June 1, 2021
Economic activity grew 14.0% in year-on-year terms in April, which followed March’s 5.8% growth.
May 19, 2021
GDP expanded 0.3% year-on-year in the first quarter of this year, improving from the flat reading recorded in the fourth quarter of 2020, as domestic demand benefited from robust monetary and fiscal stimulus measures.